Bearish flow noted in Petrobras (PBR) with 8,922 puts trading, or 1.6x expected. Most active are Dec-26 10 puts and Oct-25 13 calls, with total volume in those strikes near 8,200 contracts. The Put/Call Ratio is 1.55, while ATM IV is up over 1 point on the day. Earnings are expected on November 6th.
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